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Review of Bitcoin Digital
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Bitcoin Digital is a robot that allows users access to trade cryptocurrency assets automatically and with leverage. According to Bitcoin Digital’s website, it was developed during 2017 when crypto markets were on the rise, but we could not find any evidence of when the trading bot was first created. Additionally, we couldn’t find any information on who designed the software that powers the robot.
The robot’s website claims the platform helps users generate an ROI of 60% or an investment of $800 every day – however, this is very hard to believe despite the user testimonials on the site. In this Bitcoin Digital review, we check the verification of such bold claims and investigate whether Bitcoin Digital is a reliable service.
Pros & Cons
What is Bitcoin Digital and what can I do with it?
Bitcoin Digitial is an online platform that facilitates the automated trading of cryptocurrencies such as Bitcoin and Ethereum. It uses Artificial Intelligence (AI) and Machine Learning (ML) technologies to scan the cryptocurrency markets and find trading signals by analysing data, including historical charts, patterns, and the latest news. After finding trading opportunities, it sends signals to one of its partnered brokers to make trades. Its software functions at a very fast pace and can place multiple trades at the same time.
On top of this, Bitcoin Digital also has manual trading options for skilled traders. Users can manually trade by specifying the parameters they would like the robot to use when placing trades (e.g. to buy Bitcoin when it falls to a certain price). The trading bot then scans the markets for trading opportunities and automatically opens or closes a trade that defines the parameters entered by the trader.
How does Bitcoin Digital work?
Bitcoin Digital is a cryptocurrency robot that partners with regulated brokers to execute digital currency trades. It calculates trading signals using advanced technology and then uses an API to transmit this data to partnered brokers. The partnered broker then executes the order given by the robot in its trading dashboard.
Bitcoin Digital key questions, answered!
Which brokers can I use with Bitcoin Digital?
Bitcoin Digital partners with licensed brokers and exchanges that offer margin trading in crypto assets. The platforms are compliant with relevant regulations and also follow KYC and AML guidelines. The website doesn’t specify exactly which brokers the robot uses, but from our research it appears that the supported brokers may include UFX and 24Option.
What cryptocurrencies are supported on Bitcoin Digital?
The robot offers services of automated trading in prominent cryptocurrency assets including:
Can I use Bitcoin Digital on mobile and desktop?
Yes. It is possible to use Bitcoin Digital on any operating system including Windows, Mac, and Linux. The platform also has an official app that is available on both iOS and Android devices. This means you can use Bitcoin Digital on:
Can I trade assets with leverage?
Yes. The brokers associated with Bitcoin Digital facilitate leveraged trading by trading cryptocurrency using CFDs. This allows users to trade on the price fluctuations of different cryptos without owning the underlying coins, and also means that it’s possible to trade with leverage. Bitcoin Digital’s official platform claims that traders can expect leverage of 4000:1, meaning you can trade up to 4000 times your initial investment amount.
It is advisable to take precautions while using leveraged services, however. Cryptocurrency markets are highly volatile, and even a small difference in prices can result in potentially huge losses due to leverage. Hence, always start with small amounts and gradually build your crypto portfolio.
Can I open long and short positions with Bitcoin Digital?
In trading, a long position basically refers to a trader’s bet that the price of an asset will move up. In contrast, a short position refers to a trader’s bet that the price of an asset will move down.
What are the payment methods and withdrawal/deposit limits?
To start using Bitcoin Digital, you first need to make a minimum deposit of $250 through its trading dashboard. The method of payment will depend on the partnered broker, and some of the common methods available for deposits include credit/debit cards, Visa, Mastercard, Neteller, wire transfer, and Skrill.
The cryptocurrency bot does not place any limits on withdrawals on the minimum amount or time duration. A user can request withdrawals without any restrictions and the amount is credited into the trader’s bank account in between 24 and 48 hours.
Are there any costs and fees involved?
No. Its official website states that the software is completely free to use. However, while it is free to use the software you still need to pay a commission charge for each trade that goes through on the broker’s platform.
How do I get paid? What about payouts?
To request a payout, simply fill out the withdrawal form available on the left side of the control panel of the trading dashboard. As there are no limits to withdrawal amounts, and you can take payouts on a daily basis if you would like. You have to provide your banking details and make sure you have completed the KYC process before initiating a withdrawal, and the process can take up to 48 hours.
What is the registration and verification process?
It is simple to become a verified member of Bitcoin Digital, with the whole process taking only a few minutes. You have to fill your name, email, and contact number on the signup form available on Bitcoin Digital’s homepage to get started. You then complete the verification process by clicking the link in the email they send you.
After verification, you can begin to access trading services through the broker assigned to you. At the time of registration, you are not asked to submit any documentation of identification or proof of address, but you will need to provide these details before starting to trade on the broker’s website.
What is their customer service like?
Prior to registering on Bitcoin Digital, you can contact their customer service through a contact form that is available on the platform’s official website. After you are a verified member, you can access their customer service through email and live chat options. That said, we could not get any reply when contacted through its contact form.
Is Bitcoin Digital legit?
Bitcoin Digital offers the services of automated and manual trading in digital assets, however, it displays its information in an unethical fashion. It has various claims of people using the trading bot to buy luxury goods but these statements and videos are highly dubious and hard to believe.
It is true that the software predicts trading signals by studying markets, but it does not offer an ROI of up to 60% as claimed by its website. Its website also has testimonials that seem also to appear on other similar robot platforms. You can make money using the platform if you know what you’re doing, but not $50,000 as claimed.
Experts can use Bitcoin Digital as part of their trading strategies, but it should not be used as the only tool someone uses to trade in digital currencies. Do your research before using the services of a robot such as Bitcoin Digital.
Has Bitcoin Digital been recommended by celebrities or appeared on TV?
We came across various sources that stated Bitcoin Digital has been used by celebrity figures. Upon conducting our analysis on these claims, we found that none of the leading names mentioned has used Bitcoin Digital or endorsed it.
To help you find accurate information, we have carried out fact checks on three claims we repeatedly came across online.
Is it true that Jeff Bezos endorsed Bitcoin Digital?
No, Jeff Bezos has neither recommended nor ever endorsed the Bitcoin Digital platform. Jeff Bezos is the CEO of the multinational technology company Amazon and one of the richest men in the world.
Fact check: False. Our team could not find any evidence that Jeff Bezos is affiliated in any way to Bitcoin Digital.
Is it true that Ant McPartlin uses the Bitcoin Digital website?
A number of sources claim that Ant McPartlin uses Bitcoin Digital. But this is not true. Ant McPartlin is a British television presenter, TV producer, comedian, and actor who has starred in various television series.
Has Shark Tank publicly recommended the platform?
Bitcoin Digital has never been featured on the TV show Shark Tank. Shark Tank is an American business reality television series that shows entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company.
Fact check: False. Bitcoin Digital never featured or was mentioned on Shark Tank or any other US television show.
How to trade with Bitcoin Digital
To make trades with Bitcoin Digital, you need to sign up through its official website and then set the robot up to trade on one of its partnered brokers. From deposits to withdrawals, all operations are carried out through the broker’s trading dashboard. You can view your trades, manage your account, set parameters, deposit, and request for withdrawals from the control panel of Bitcoin Digital.
To access the cryptocurrency robot services, here are the steps for opening an account:
How to open an account with Bitcoin Digital
- Step 1: Registration. The first step is to become a member of Bitcoin Digital. For registration, you can fill in all the details on the form available on the right side of the home page. The process is fairly simple and you are not required to submit ID proof at this stage.
- Step 2: Deposit Funds. Make a minimum deposit of $250 to use autotrading services. You can also choose to use the demo feature and familiarise yourself with the platform. Please note that you will be asked to complete verification steps before being able to place trades on the broker’s platform.
- Step 3: Trade. If you have enabled autotrading, the robot will automatically start finding trading opportunities. In manual trading, you have to set parameters for entry or exit of a trade before the technology starts to work.
Our top robot trading tips for beginners
When trading in cryptocurrency markets using a robot, there are a number of factors that you need to be aware of. Moreover, even while using the robot’s services, a trader needs to perform thorough research on financial markets and cryptocurrency. We have prepared a list of steps that should be considered before using a robot such as Bitcoin Digital.
- Familiarise yourself with trading. A beginner needs to familiarise themselves with how trading works before investing any money – even if using a robot. The trader needs to understand the risk factors, volatility, and security of crypto assets before beginning to start trading.
- Understand cryptocurrency space. Cryptocurrency markets are susceptible to volatility, and the best way to improve your chances of success is to learn more about cryptocurrency with our courses.
- Practice with a demo account. It is always advisable to practice using a demo account before risking your money. This gives you a fair idea of Bitcoin Digital’s trading interface and cryptocurrency trading in general before starting out.
- Start small and build gradually. Always start small and gradually build your portfolio. The best investment strategies are always those that look to the long term.
- Only invest what you can afford to lose. Bitcoin Digital’s official website states that you can generate a return of 1000% on your investments. However, refrain from believing these claims and invest only what you can afford to lose.
Bitcoin Digital allows users to undertake automated trading in digital currencies, however the bold claims of investors receiving 60% ROI and $800 profits daily are speculative and highly unlikely to be true. Even the most experienced traders do not earn fast money while trading in digital assets.
The robot works round the clock, scans the market, and derives trading signals but does not predict trades at a 98% accuracy rate despite what it claims. Also, the statements of celebrities joining Bitcoin Digital are marketing techniques to falsely promote this robot and are similarly untrue.
Expert traders can use Bitcoin Digital for setting manual parameters and develop a trading strategy for the robot to execute, and this is probably its most effective use. Since cryptocurrency markets run 24/7, users can make sure they never miss an opportunity just because they’re away from their computer or phone.
Beginners should not solely rely upon the robot to engage in cryptocurrency trading, and you should always conduct your own research before trading cryptocurrencies.
Bitcoin Digital does provide services for trading in crypto markets, but your profits will not be anywhere near the scale it claims. Similar testimonials to those on Bitcoin Digital can be found on other robot platforms as well, implying a lack of authenticity from this platform.
Contrary to its indications, Bitcoin Digital cannot generate a consistent ROI of 60% for its users. While users have taken advantage of its services and benefitted, it is not used by famous celebrities or prominent personalities.
Yes. Registering and opening an account on Bitcoin Digital is simple and can be done in a few steps. You do not have to submit any identification proofs to use the services of the robot – but users may be required to comply with KYC guidelines before starting to place trades on one of its partnered brokers. Also, its services are limited to some jurisdictions and not available in all countries.
No, withdrawals are available only in fiat currencies. This is because brokers offer CFD trading instruments of crypto assets. In this case, you do not hold any particular digital currency, you hold the contract which tracks the prices of that crypto. Hence payouts are not processed in cryptocurrency.
In terms of automating cryptocurrency trades, yes – but it does not provide financial gains on the scale suggested on its website. Furthermore, it uses unethical marketing practices to showcase its features including showing a fake video with leading names endorsing Bitcoin.
Additionally, the official platform lacks authenticity as various websites assert the exact same services with a different interface. The official website also holds vague information pertaining to the team and founders behind the robot.
With respect to automating trades using advanced algorithm software in digital currencies, yes, but you cannot generate $800 daily through Bitcoin Digital. The robot has partnered with brokers that support the trading of crypto CFDs, and it links to these via an API to place trades automatically for its users.
Its official website states that Bitcoin Digital is free to use. However, this may not be true once you consider fees applied by partnered brokers. Traders will be required to pay certain charges or fees depending on which trading platform is used to place the trades as instructed by the robot.
To delete your Bitcoin Digital account, please ensure that your funds are credited into your bank first. For this, you have to submit a request for withdrawal from your trading dashboard. After you receive your capital, you have to now delete your account from broker’s and robot’s platforms by emailing the customer support of each service.
It is unclear who owns and operates Bitcoin Digital. Its official website does not mention any names on the team or the founders behind it. Also, there are numerous claims on other sources that the website was developed by a team of financial experts, but we could not find any evidence to back up these claims.
Fact-checking & references
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >